IASB publishes proposed amendment to IFRS 1 for government loans

  • 1110ed-2011-5.gif Image

19 Oct 2011

The IASB has published Exposure Draft ED/2011/5 'Government Loans' (Proposed amendments to IFRS 1) for public comment.

The proposed amendment addresses how a first-time adopter would account for a government loan with a below-market rate of interest when transitioning to IFRSs. In addition, the proposed amendment adds an exception to the retrospective application of IFRS, which would then provide the same relief to first-time adopters granted to existing preparers of IFRS financial statements when the requirement was incorporated into IAS 20 in 2008. Comments are due by 5 January 2012.

Click for:


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.